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Hector
Member
@hector
Join Date: 2004
Post Count: 7
July 25, 2004 - 9:16 am
Thanks for the message leigh.
I also want to invest for cashflow. My wife and i are recently married and will be looking at having children in the next couple of years. I would ideally like for her not to work again after that is she wishes, (which i think she will).some extra income will be an advantage to help pay off the home in which we live.
Happy investing leigh
Originally posted by LeighK:
Hi Hector
Nice post Kay[thumbsup2]
I would just like to add that you need to decide what your goal is and prepare a plan, such as mine is to produce a stream of income. I do this by buying CF+ regional and rural properties.
As you become more experienced you can change your plan as we are about to, there is an area not far from where we live that missed the last property boom and is most definately set for the next cycle. We will watch it until the area starts to change and then buy neg geared for the CG.
Steve gave you the most valuable peice of advice, learn to crunch the numbers because this is what can make a deal. You also need to learn about value adding to your properties to increase the rental return, such as a new bedroom, second bathroom yadda yadda!
Good luck, stick at it, despite what the nay sayers say the deals are still out there.
CHeers
Leigh K[biggrin]
Hector
Member
@hector
Join Date: 2004
Post Count: 7
July 25, 2004 - 9:10 am
Hello Kay.
Thank you for your advice. I am not sure I am replying properly here so i hope you get this message.
Hector.
Originally posted by kay henry:
Heya hector I am not Steve, but I’ll add some of my own opinions
Remember that Steve bought in a much flatter market and prices have risen since then. We could have all focussed on one market then and made heaps of cash, because the market was flat. You could still focus on one market now- for example, I was just looking at Mt Isa on realestate.com.au, and the income/yield is pretty good… but the houses… [blink] hehe- not pretty
I wouldn’t focus on one market myself. I see different things in different markets. A cheap regional place means I don’t have to have the capital outlay, and the rental return is ok. A lifestyle place can get you CG and a long-term rental place, and a city place can get long-term CG and a stable market of renters.
Some here will go purely on yield. Others will look at property for it’s long-term prospects. It just depends on what you want from property.
As for being time-poor… well, once you feel you have the confidence to find what you’re looking for, it doesn’t take much time at all. realestate.com.au is your friend- you can use it as a starting base to see what’s out there. I think people have to *make* time to look at property. If you were going into shares, you’d have to spend time researching, and it’s the same with property. Either you can make time, or rely on a buyer’s agent to do it for you. But if you pay for a buyer’s agent, it will be increasing their skills, but not increasing yours.
It can be hard for a beginner, but I find most of my learning comes from this forum, and from reading a few books when I need to. But property ain’t a 5-minute skill- it’s a long-term passion, I think
kay henry
Hector
Member
@hector
Join Date: 2004
Post Count: 7
July 25, 2004 - 9:02 am
Originally posted by kay henry:
Heya hector I am not Steve, but I’ll add some of my own opinions
Remember that Steve bought in a much flatter market and prices have risen since then. We could have all focussed on one market then and made heaps of cash, because the market was flat. You could still focus on one market now- for example, I was just looking at Mt Isa on realestate.com.au, and the income/yield is pretty good… but the houses… [blink] hehe- not pretty
I wouldn’t focus on one market myself. I see different things in different markets. A cheap regional place means I don’t have to have the capital outlay, and the rental return is ok. A lifestyle place can get you CG and a long-term rental place, and a city place can get long-term CG and a stable market of renters.
Some here will go purely on yield. Others will look at property for it’s long-term prospects. It just depends on what you want from property.
As for being time-poor… well, once you feel you have the confidence to find what you’re looking for, it doesn’t take much time at all. realestate.com.au is your friend- you can use it as a starting base to see what’s out there. I think people have to *make* time to look at property. If you were going into shares, you’d have to spend time researching, and it’s the same with property. Either you can make time, or rely on a buyer’s agent to do it for you. But if you pay for a buyer’s agent, it will be increasing their skills, but not increasing yours.
It can be hard for a beginner, but I find most of my learning comes from this forum, and from reading a few books when I need to. But property ain’t a 5-minute skill- it’s a long-term passion, I think
kay henry
Thank you very much guys for your responses. I really appreciate you
Hector
Member
@hector
Join Date: 2004
Post Count: 7
July 25, 2004 - 9:01 am
Originally posted by kay henry:
Heya hector I am not Steve, but I’ll add some of my own opinions
Remember that Steve bought in a much flatter market and prices have risen since then. We could have all focussed on one market then and made heaps of cash, because the market was flat. You could still focus on one market now- for example, I was just looking at Mt Isa on realestate.com.au, and the income/yield is pretty good… but the houses… [blink] hehe- not pretty
I wouldn’t focus on one market myself. I see different things in different markets. A cheap regional place means I don’t have to have the capital outlay, and the rental return is ok. A lifestyle place can get you CG and a long-term rental place, and a city place can get long-term CG and a stable market of renters.
Some here will go purely on yield. Others will look at property for it’s long-term prospects. It just depends on what you want from property.
As for being time-poor… well, once you feel you have the confidence to find what you’re looking for, it doesn’t take much time at all. realestate.com.au is your friend- you can use it as a starting base to see what’s out there. I think people have to *make* time to look at property. If you were going into shares, you’d have to spend time researching, and it’s the same with property. Either you can make time, or rely on a buyer’s agent to do it for you. But if you pay for a buyer’s agent, it will be increasing their skills, but not increasing yours.
It can be hard for a beginner, but I find most of my learning comes from this forum, and from reading a few books when I need to. But property ain’t a 5-minute skill- it’s a long-term passion, I think
kay henry
Hector
Member
@hector
Join Date: 2004
Post Count: 7
July 18, 2004 - 7:21 am
Thanks for the reply Steve. I read your book and found it to be very interesting. In your book you wrote how you and Dave concentrated on Ballarat at the start of your investing adventure. Would you recommend rather than looking for places everywhere like a crazy person to find a town which you think would be a good place to start and to research it and just concentrate on it and try and find deals there. At the moment I am reading as much info as i acan and i am hearing that Queensland is a good place to invest aswell as W.A then Tasmania then N.Z. I realize there are probably great deals in all of these places but I feel I am chasing my tale a bit as i work pretty long hours and I am doing this after hours and on top of that my computer skills are not all that great. I hope I dont sound like a big complainer!